MSME'S
Today, MSME entrepreneurs are facing several problems like Poor infrastructure, Access to modern technology, Access to markets, Getting statutory clearances related to power, environment, labour etc InvestDavanagere can facilitate the MSMEs to access the credit, access to market, technology upgradation, ease of doing business and timely consulting-mentoring services for next level expansion and growth!
PROCESS
HIGHLIGHTS & KEY LINKS
The Prime Minister, launched support and outreach program for the Micro, Small and Medium Enterprises (MSME) sector. The programme includes 12 key initiatives which will help the growth, expansion and facilitation of MSMEs across the country
Launch of the 59 minute loan portal to enable easy access to credit for MSMEs. The loans up to Rs. 1 crore can be granted in-principle approval through this portal, in just 59 minutes.
20 hubs, and 100 spokes in the form of tool rooms will be established across the bangalore
A 2% interest subvention for all GST registered MSMEs, on fresh or incremental loans.
Clusters of pharma MSMEs will be formed and 70% cost of establishing these clusters will be borne by the Union Government.
All companies with a turnover more than Rs. 500 crore, must now compulsorily be brought on the Trade Receivables e-Discounting System (TReDS).
In order to simplify the government procedures, the return under 8 labor laws and 10 Union regulations must now be filed only once a year.
Public sector companies have now been asked to compulsorily procure 25%, instead of 20% of their total purchases, from MSMEs.
The establishments to be visited by an Inspector will be decided through a computerized random allotment.
Out of the 25% procurement mandated from MSMEs, 3% must now be reserved for women entrepreneurs.
Environmental Clearance under air pollution and water pollution laws, have been merged into one. Also, the return will be accepted through self-certification.
All public sector undertakings of the Union Government must now compulsorily be a part of Government e-Marketplace (GeM). They should also get all their vendors registered on GeM.
For minor violations under the Companies Act, the entrepreneur will no longer have to approach the Courts, but can correct them through simple procedures.
OTHER RECENT INITIATIVES TO PROMOTE MSME SECTOR
Udyog Aadhaar Memorandum (UAM): It is a simple one-page registration form to promote ease of doing business for MSMEs in India.
A Scheme for Promoting Innovation, Rural Industry and Entrepreneurship (ASPIRE): The scheme promotes innovation & rural entrepreneurship through rural Livelihood Business Incubator (LBI), Technology Business Incubator (TBI) and Fund of Funds for start up creation in the ago-based industry.
Credit Guarantee Fund Scheme: To facilitate easy flow of credit, guarantee cover is provided for collateral free credit extended to MSMEs.
Prime Minister’s Employment Generation Program (PMEGP): is a credit linked subsidy scheme, for setting up of new micro-enterprises and to generate employment opportunities in rural as well as urban areas of the country.
Scheme of Fund for Regeneration of Traditional Industries (SFURTI): The scheme aims to make traditional industries more productive and competitive by organizing the traditional industries and artisans into clusters.
Credit Linked Capital Subsidy Scheme (CLCSS) for Technology Up-gradation: CLCSS aims at facilitating technology up-gradation of Micro and Small Enterprises (MSEs) by providing 15% capital subsidy for purchase of plant & machinery.